The budget deficit eases to 2.1 billion DH in the first quarters

At the end of March, ordinary revenue has a cost of 21.1% and ordinary expenditure of 16.1%. The ordinary balance was negative at 176 million dirhams against -2.83 billion dirhams a year earlier and the Treasury deficit decreased to 2.1 billion against a deficit of 8 billion at the end of March 2021. And a significant fact: nearly 95% of the compensation budget is already committed.

The budget deficit eases in the first three months of this year. And for good reason, ordinary revenue is rising significantly faster than that of ordinary expenditure, according to the Monthly Bulletin of Public Finance Statistics published by the General Treasury of the Kingdom (TGR). Thus, ordinary revenue paid by 21.1% and ordinary expenditure by 16.1% at the end of last March. On the basis of these receipts collected and expenses issued, the execution of the finance law at the end of March showed a negative ordinary balance of 176 million DH against a negative ordinary balance of 2.83 billion DH a year earlier and a Treasury deficit of 2.1 billion, taking into account a positive balance of 20 billion generated by the special accounts of the Treasury and the State services managed independently, against a Treasury deficit of 8 billion at the end of March 2021. In detail, revenue increased due to an 18% increase in net customs revenue, taking into account refunds, tax relief and refunds of 11 million DH at the end of March against 16 million a year earlier.

The 17.4% increase in TIC on manufactured tobacco and 31.2% in other TIC (+31.2%) also benefited from the increase in receipts. Another increase recorded during the 1st quarter, that of net revenue from domestic taxation (+28.4%), taking into account refunds, reliefs and tax refunds borne by the general budget which amounted to 3.59 billion dirhams at the end of last March. Finally, non-tax revenue fell by 37.2% due in particular to payments from special Treasury accounts in favor of the General Budget (877 million DH against 1.07 billion), revenue from monopolies (1.01 billion DH and the gas pipeline fee (7 million DH).

Expenditure: one third of commitments made

Regarding expenditure, the TGR notes an overall expenditure commitment rate of 32% and an issue rate on commitments of 71%, compared to 32% and 70% respectively one year as well as an increase in ordinary expenditure of 16%. .1%. The latter stems from a 6.4% increase in expenditure on goods and services, due to the increase of 1.8% in personnel expenditure and 15.8% in other expenditure on goods and services, a decrease of 3% of debt interest charges and a 164.9% increase in compensation issues to more than 10 billion, ie an achievement rate of nearly 59%. In addition, the TGR highlights a 49.3% increase in tax refunds, relief and refunds. In addition, the total amount of domestic and import VAT refunds (including the share borne by local authorities) is 4.96 billion DH, against 3.26 billion at the end of March 2021. Finally , indicates the TGR, there is a growth of 9.9% of the investment expenditure issued to 22 billion DH, due to the increase of 2.9% of the expenditure of the ministries and of 14.7% of the expenditure common charges.

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